Link Senior Development Completes Sale of The Lodge at North Ogden
Link Senior Development announces the sale of The Lodge at North Ogden, a 122-unit independent living, assisted living, and memory care property in North Ogden, Utah to MedCore Partners of Dallas, TX. Construction on The Lodge at North Ogden ended in May 2019 and the community opened its doors to new residents in June. Offering 18 independent living, 82 assisted living apartment with 30 memory care beds. The Lodge at North Ogden is the fifth and final property in a portfolio sale to MedCore this year that consisted of five properties with a total of 531 apartments.
MedCore completed the initial four asset acquisition, including three assisted living and memory care assets in Arizona and one in Utah in February of this year. Immediately upon closing on the assets, Watermark Retirement Communities, a national leader in senior living design, programs and operations, took over the management of the properties. Based in Tucson, Arizona, Watermark has substantial knowledge in the Arizona and Utah markets, and in total, owns and/or operates 56 communities in 21 states with 4 additional communities under development.
Ankrom Moisian Associates of Portland, OR provided all architectural and oversight, Gerding Construction of Corvallis, OR provided General Contractor services, and UMB of Phoenix, AZ provided construction loan financing.